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Which Of The Latest 13F Filers Holds Johnson & Johnson?

At Holdings Channel , we have reviewed the latest batch of the 20 most recent 13F filings for the 12/31/2016 reporting period, and noticed that Johnson & Johnson (Symbol: JNJ) was held by 16 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look.

Before we proceed, it is important to point out that 13F filings do not tell the whole story, because these funds are only required to disclose their long positions with the SEC, but are not required to disclose their short positions. A fund making a bearish bet against a stock by shorting calls, for example, might also be long some amount of stock as they trade around their overall bearish position. This long component could show up in a 13F filing and everyone might assume the fund is bullish, but this tells only part of the story because the bearish/short side of the position is not seen .

Having given that caveat, we believe that looking at groups of 13F filings can be revealing, especially when comparing one holding period to another. Below, let's take a look at the change in JNJ positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Smithbridge Asset Management Inc. DE Existing +330 -$84
Lynch & Associates IN Existing +1,321 -$113
Forte Capital LLC ADV Existing +2,518 +$248
Arvest Bank Trust Division Existing -2,825 -$834
Lourd Capital LLC Existing +91 -$16
Baker Boyer National Bank Existing -5 -$30
Altfest L J & Co. Inc. Existing -295 -$96
Capital Investment Services of America Inc. Existing -200 -$59
Swarthmore Group Inc. Existing -17,775 -$2,115
Boltwood Capital Management Existing -25 -$57
Lenox Wealth Advisors Inc. Existing +6 -$2
Advisors Capital Management LLC Existing +5,726 +$477
Cornerstone Investment Partners LLC Existing +13,397 -$1,324
Salem Capital Management Inc. Existing -550 -$270
LVM Capital Management Ltd. MI Existing +19,222 +$3,221
Harwood Advisory Group LLC Existing -14,729 -$1,767
Aggregate Change: +6,207 -$2,821

In terms of shares owned, we count 8 of the above funds having increased existing JNJ positions from 09/30/2016 to 12/31/2016, with 8 having decreased their positions.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the JNJ share count in the aggregate among all of the funds which held JNJ at the 12/31/2016 reporting period (out of the 52 we looked at in total). We then compared that number to the sum total of JNJ shares those same funds held back at the 09/30/2016 period, to see how the aggregate share count held by hedge funds has moved for JNJ. We found that between these two periods, funds reduced their holdings by 33,300 shares in the aggregate, from 3,465,240 down to 3,431,940 for a share count decline of approximately -0.96%. The overall top three funds holding JNJ on 12/31/2016 were:

Fund Shares of JNJ Held
1. DAVENPORT & Co LLC 1,413,343
2. Park National Corp OH 366,332
3. Cacti Asset Management LLC 269,286
4-10 Find out the full Top 10 Hedge Funds Holding JNJ

We'll keep following the latest 13F filings by hedge fund managers and bring you interesting stories derived from a look at the aggregate information across groups of managers between filing periods. While looking at individual 13F filings can sometimes be misleading due to the long-only nature of the information, the sum total across groups of funds from one reporting period to another can be a lot more revealing and relevant, providing interesting stock ideas that merit further research, like Johnson & Johnson (Symbol: JNJ).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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